Technical Templates

[visualxray]

that 880 area has been protected for over a week now.
there's also been heavy european & middle east fund activity on the bid from beginning of last week too.

Spec firms are riding heavy into early London flows ahead of NFP.
A typical scenario usually if ranges are contracted or cycles are beginning to establish themselves into end of week business.

That lower barrier certainly popped on that pre-nfp jollie.
Ideal opportunity really considering all that's gone on this week.

As soon as those 2920 stops gave way & price failed miserably to bounce back after the raid, it was ominous for the 2880 defense.
The cycle down told the story though, especially via the 15m frame.
No violation back through 2895 pre-nfp, but would have taken a very brave soul to sit tight through the potential whipsaw.

[goldtop]

As Joe remarked prior to the european shift on Friday, Dollar, Cad & Yen were strong v/s a choice of currencies & have established bias swing highs/lows into last week's close that we can use as markers heading into next week.
A couple of examples of that price action & the corresponding levels/zones with background technicals to take note of as we approach the open.

Focusing on the usual strong/weak combinations & matching it up alongside the normal background framework & bias oriented structure will ensure we're continuing to lean towards pairs offering lower risk/higher probability odds.

Be mindful the US election circus will continue to weigh on liquidity & range boundary coverage until an eventual conclusion to the race, but nevertheless the cycle sequence in tandem with directional bias will keep us in tune with likely momentum shifts & next stage destination zones.

[xerb]

Yen & Aud played top dogs today with sterling, euro & swiss the underperformers.
If that performance order remains intact overnight & into tomorrows european markets, it will be worth keeping an eye on gbp/jpy shorts, gbp/aud shorts & aud/chf longs for pullback/continuation cycle activity.

Marking out the most recent LH & HL levels & playing failures back towards those zones in the direction of the current flows offer the lower risk/higher prob opportunities, such as the current scenario on this example:
128.40 represents the recent LH on this hourly chart.
Any failure attempts to scale back & print a higher low (HL) will prompt me into shorting this pair with target areas on the chart towards 127.85 & the 127.20-40 zone.

[Eidriel]

Nice going guys.

Want to ask you all if I marked the next 2 most likely upside reaction zones correctly?

Thanks

[Joe Whitehorse]

Want to ask you all if I marked the next 2 most likely upside reaction zones correctly?

Those are absolutely fine Eidriel

Yen & Aud played top dogs today with sterling, euro & swiss the underperformers.
If that performance order remains intact overnight & into tomorrows european markets, it will be worth keeping an eye on gbp/jpy shorts, gbp/aud shorts & aud/chf longs for pullback/continuation cycle activity.

Great summary as usual xerb.
Succinct, accurate & timely, especially the first destination zone on the GBPJPY pair.

Nice overnight bias continuation moves on all 3 of those

[jack mason]

Aussie & Cad ticking up into early european trade today too, but Aussie especially has covered it's day's range already so will need to pull back against many of it's counter pairs in order to offer higher probability follow through.

eurcad (trading the short side) has travelled only 30% of range into London, as has cadchf (trading it long), so for those tracking them via med-term swing (which i know kyle, hawkmoon & speedbump do), they will offer slightly better add-in value today if they continue to oblige.

the immediate outlook could be choppy on the majors with it being election day Stateside. According to Tess earlier this morning, volumes are approx 30-35% light on 3 of the main interbank portals they use, so that will be an accurate gauge for generic hubs, which could accelerate any knee-jerk moves today/tomorrow so take a little more care with your stops & initial objectives.

[jcpfx]

Good Morning Pipsters,

disappointing round of coin-flipping for me yesterday, with the Euro breakdown that I was unable to catch (diddn't yet retrace to the breakout area for a support becomes resistance type entry); nor did I catch cable. Instead I got caught wrong footed fading one of the 1H pins in early afternoon and was stopped out. The same thing happened on the 7-11 CET pin on EurGbp.

Only satisfaction was the overnight long on Aussie off 1.0367 but I booked profits at 1.04 and went to sleep...

This morning I have only scalped short DAX 7341 to 7331... maybe I need to do some more prep-work like Xerb (nice stuff by the way).

May the pips be with you today!

[jcpfx]

the immediate outlook could be choppy on the majors with it being election day Stateside. According to Tess earlier this morning, volumes are approx 30-35% light on 3 of the main interbank portals they use, so that will be an accurate gauge for generic hubs, which could accelerate any knee-jerk moves today/tomorrow so take a little more care with your stops & initial objectives.

well noted, better safe then sorry.

[shona123]

kiwi is also ticking up this week & offering us the usual technical footprints of cyclical directional bias opportunities.
one or two of them are pushing for key respective highs into 4th quarter & are definitely worth putting near the top of your watch-lists for continuation pullback set ups.

[kyle morgan]

kiwi is also ticking up this week & offering us the usual technical footprints of cyclical directional bias opportunities.
one or two of them are pushing for key respective highs into 4th quarter & are definitely worth putting near the top of your watch-lists for continuation pullback set ups.

Didn't take long for the first of those pullback opportunities to roll around then huh?

Pretty standard background activity, price action behaviour, set up/trigger combo & positive risk criteria.
Kiwi, Aud, Cad & now Euro picking up a backwind into the thick end of the NY shift, with Yen & $US on the backfoot.